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Constance LoizosHere's an interesting case for actively managed mutual funds over index funds. Performance numbers for the active managers would be a lot better if you looked only at nimbler new funds and left out the bloated old ones that are the real underperformers. "Active funds that have been more recently invested outperform in a significant way the active funds that were long ago invested," Wharton School Professor A. Craig MacKinlay observed during the Investment Management Consultants Association conference in San Francisco late last month.
— Investment News